Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
2342 articles from BusinessWorld
DoH eyes preventive HIV treatment coverage, expanded testing
THE Department of Health (DoH) on Wednesday said the outpatient package for human immunodeficiency virus (HIV) under the Philippine Health Insurance Corp. (PhilHealth) will be expanded to cover preventive medicine and expanded testing, as it seeks to have 95% of people living with HIV (PLHIV) undergo treatment. “PhilHealth is going to expand the coverage of […]
Read more →DoLE, NEA to form tripartite council for electric cooperatives
THE Department of Labor and Employment (DoLE) and the National Electrification Administration (NEA) are working to establish a tripartite council that will provide a permanent forum for addressing labor and employment concerns in the electric cooperative industry. In a statement on Wednesday, DoLE said the agencies have begun working on guidelines for the proposed Electric […]
Read more →Tax perks for athletes with global wins hurdles panel
A HOUSE of Representatives panel on Wednesday approved a measure seeking to exempt Filipino national athletes and coaches from taxes on rewards and incentives they receive from international sports competition. In a statement, Leyte Rep. Richard I. Gomez said that the House Committee on Ways and Means approved the tax provision under a substitute bill […]
Read more →DICT pushes stronger regional action vs digital threats
THE Department of Information and Communications Technology (DICT) said it is pushing for stronger regional action against harmful content, online scams and rising digital threats. “The Philippines cannot deal with these challenges alone, and neither can any ASEAN (Association of Southeast Asian Nations) member state. What we achieved in Singapore shows that engagement can produce […]
Read more →ARTA seeks single business ID to cut permitting delays
THE Anti-Red Tape Authority (ARTA) said it is working on the establishment of a single business identifier to be used across government transactions to help streamline business permitting. In a statement on Wednesday, ARTA said this aligns with the Department of Economy, Planning and Development’s (DEPDev) recommendation to institutionalize the Unique Business Identification Number (UBIN). […]
Read more →Gokongwei Brothers Foundation invests in classrooms, teachers
Gokongwei Brothers Foundation (GBF) said on Wednesday that it banks on classrooms and teachers to help address current gaps in the education sector. “We have always believed that education is one of the most powerful ways to transform lives. It opens doors to opportunity, helps individuals realize their potential,” GBF Chairman Lance Y. Gokongwei said […]
Read more →PHL shares fall as peso slides to new all-time low
PHILIPPINE SHARES closed lower on Wednesday as the peso finished at a new record low amid renewed inflation concerns, with reignited hostilities between the United States and Iran pushing up global oil prices. The Philippine Stock Exchange index (PSEi) dropped by 0.67% or 40.66 points to close at 6,053.23, while the broader all shares index […]
Read more →Vietnam ASF vaccine cleared for commercial sale
THE Department of Agriculture (DA) said on Wednesday that the Bureau of Animal Industry (BAI) approved the commercial sale of AVAC ASF LIVE, the first African Swine Fever (ASF) vaccine. Developed by AVAC Vietnam Joint Stock Co., AVAC ASF LIVE is a live, attenuated, gene-deleted, and freeze-dried vaccine designed to protect pigs from the ASF […]
Read more →Hotel association projecting 40,000 new rooms over 5 years
THE hotel industry is expected to expand by 40,000 rooms across 150 hospitality projects over the next five years, the Philippine Hotel Owners Association (PHOA) said. “In the next five years, we’re expecting over 150 hotel projects to be rolled out. That will add another 40,000 rooms,” PHOA Executive Director Benito C. Bengzon, Jr. said […]
Read more →PAGASA monitors three weather disturbances, raises rainfall warning over seven areas
Three weather disturbances are being monitored on Wednesday, as the southwest monsoon continues to threaten Luzon, with heavy rainfall expected in seven areas, posing a risk of flash floods, according to the state weather bureau. The disturbance inside the Philippine Area of Responsibility (PAR), Tropical Storm Krovanh, locally known as Pilandok, was last located 1,135 […]
Read more →Haze linked to Indonesian fires observed in NCR, parts of the country — DENR
Haze linked to forest fires in Kalimantan, Indonesia, was observed in the National Capital Region (NCR) and other parts of the country, with the public urged to take precautions due to its potential health effects, according to the Department of Environment and Natural Resources (DENR) on Wednesday. In a news release, DENR-Environmental Management Bureau (DENR-EMB) […]
Read more →Philippines’ August PMI grows at fastest pace in nearly 10 years
PHILIPPINE manufacturing activity expanded at its fastest pace in nearly a decade in August, driven by stronger new orders and improved production efficiency, S&P Global said.
Read more →Philippine peso hits fresh low P62.40 vs US dollar
THE PESO tumbled to a new low against the US dollar on Tuesday as hawkish signals from the US Federal Reserve and intensifying Middle East tensions lifted the greenback.
Read more →Pantheon says BSP tightening cycle likely over as inflation to further ease
UNITED KINGDOM-BASED think tank Pantheon Macroeconomics sees the Bangko Sentral ng Pilipinas (BSP) holding off on any further monetary policy tightening as it expects inflation to undershoot the central bank’s revised forecasts. Pantheon Macroeconomics Chief Emerging Asia Economist Miguel Chanco and Asia Economist Meekita Gupta said the BSP’s latest inflation outlook seems “overly pessimistic.” Following […]
Read more →Philippines’ foreign debt service bill climbs at end-May
THE Philippines’ debt service on foreign loans continued to rise as the government made higher principal payments as of May, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.
Read more →BusinessWorld receives award from PIDS
BUSINESSWORLD received the “Daluyan ng Dunong: Outstanding Print/Online Media Partner” from the Philippine Institute for Development Studies (PIDS). This was part of the “Saliksik at Balita: PIDS Media Awards.” BusinessWorld was recognized as the “most supportive media organization whose work has consistently amplified evidence-based research and deepened public understanding of key development issues.” BusinessWorld Editor-in-Chief […]
Read more →Jollibee advances global unit spinoff with HK listing plan
JOLLIBEE Foods Corp. (JFC) has selected Hong Kong (HK) as the proposed listing venue for its international business, replacing its earlier plan to pursue a US listing as it moves ahead with the separation of its overseas operations. In a disclosure on Tuesday, JFC said it is contemplating a separate listing of shares in Jollibee […]
Read more →DICT sees 2026 telco spending reaching P153 billion
THE Department of Information and Communications Technology (DICT) expects capital spending by major Philippine telecommunications companies (telcos) to reach as much as $2.45 billion, or about P152.88 billion, this year.
Read more →Meralco set to evaluate lowest bids for 600-MW supply
MANILA Electric Co. (Meralco) is set to evaluate the three lowest bids for its 600-megawatt (MW) baseload supply requirement, with offers from generators under San Miguel Global Power Holdings Corp. (SMGP) and Aboitiz Power Corp. (AboitizPower) starting at P5.3573 per kilowatt-hour (kWh). In a statement on Tuesday, Meralco said six of the nine bidders that […]
Read more →Solar Philippines sells P3 billion worth of SPNEC shares
SOLAR PHILIPPINES Power Project Holdings, Inc. (SPPHI), founded by businessman-turned-politician Leandro L. Leviste, has sold P3 billion worth of shares in SP New Energy Corp. (SPNEC). SPPHI sold 2.4 billion SPNEC shares at P1.25 each, equivalent to a 4.79% stake, according to a regulatory filing on Tuesday. Following the sale, SPPHI’s ownership in SPNEC fell […]
Read more →Metro Pacific Water sets P23-B five-year investment plan
METRO PACIFIC Water (MPW), a wholly owned subsidiary of Pangilinan-led Metro Pacific Investments Corp. (MPIC), plans to invest about P23 billion over the next five years across its water businesses in the Philippines and Vietnam. “Water security is economic security, and this P23-billion investment is our commitment to building the infrastructure the next generation will […]
Read more →A lifetime of art shaped by love for the Philippines
IN MARCH of last year, the passing of master modernist painter Juvenal Sansó gave shape to an idea for an exhibition. To honor the man’s contributions to Philippine art, Fundacion Sansó director Ricky Francisco and National Museum director-general Jeremy Barns decided it was time for the museum to mount its very first solo exhibition centered on Mr. Sansó’s works.
Read more →Former Finance chief Dominguez joins Megaworld board
FORMER Finance Secretary Carlos “Sonny” G. Dominguez III has been appointed lead independent director of Megaworld Corp., the company said on Tuesday. Mr. Dominguez served as Finance secretary from 2016 to 2022. He previously headed the Department of Agriculture and the Department of Environment and Natural Resources in the late 1980s. He has also held […]
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